2015-11-13T09:18:12-06:00 2014-12-31 271728945 O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2014-01-01 060706038 BERMUDA INSTITUTE OF OCEAN SCIENCES (BIOS) INC BERM 4412971880 17 BIOLOGICAL STATION ST GEORGES BD GE 01 WILLIAM B CURRY PRESIDENT/DIRECTOR 4412971880 2015-11-13 1 CHRISTOPHER W CASINI P00072754 2122862600 2014 2016-02-25 16:41:14Z WILLIAM B CURRY 17 BIOLOGICAL STATION ST GEORGES BD GE 01 23105343 0 X WWW.BIOS.EDU X 1926 NY BIOS'S MISSION IS TO SEEK AND SHARE FUNDAMENTAL KNOWLEDGE OF THE OCEANS (CONTINUED IN SCHEDULE O) THROUGH STATE-OF-THE-ART SCIENTIFIC RESEARCH, WORLD-CLASS FIELD EXPEDITIONS, AND COMPREHENSIVE EDUCATIONAL EXPERIENCES. 34 33 55 38 -27177 -27177 10162749 10834871 2110261 2016324 856885 3643810 216957 190665 13346852 16685670 877982 593191 0 0 6435852 5818812 0 0 542299 5609424 6352201 12923258 12764204 423594 3921466 32894057 34398000 6089346 6664251 26804711 27733749 X BIOS'S MISSION IS TO SEEK AND SHARE FUNDAMENTAL KNOWLEDGE OF THE OCEANS THROUGH STATE-OF-THE-ART SCIENTIFIC RESEARCH, WORLD-CLASS FIELD EXPEDITIONS, AND COMPREHENSIVE EDUCATIONAL EXPERIENCES. 0 0 8305746 593191 SCIENTIFIC RESEARCH: THE RESEARCH CONDUCTED AT BIOS IS RELEVANT TO THE WATERS SURROUNDING BERMUDA, AS WELL AS GLOBAL EARTH SYSTEM, AND IS MULTIDISCIPLINARY, SPANNING THE BIOLOGICAL, CHEMICAL, GEOLOGICAL, AND PHYSICAL SCIENCES. BIOS RESEARCHERS ARE ACTIVE PARTNERS IN REGIONAL AND INTERNATIONAL RESEARCH COLLABORATIONS THAT ARE WORKING TO ADDRESS SOME OF THE MOST PRESSING ISSUES OF OUR TIME INCLUDING CLIMATE CHANGE, MARINE CONSERVATION, ECOSYSTEM HEALTH, AND NATURAL-DISASTER RISK ASSESSMENT. 2608846 2016324 EDUCATION: FROM HANDS-ON PROGRAMS FOR BERMUDA K-12 STUDENTS TO GRADUATE INTERNSHIPS IN SHIPBOARD OCEANOGRAPHY, BIOS CONDUCTS A VARIETY OF EDUCATION PROGRAMS EACH YEAR THAT PREPARE THE NEXT GENERATION FOR THE SCIENTIFIC AND TECHNICAL CHALLENGES OF THE FUTURE. BIOS'S YEARLONG OCEAN ACADEMY PROVIDES EDUCATIONAL RESOURCES TO LOCAL TEACHERS AND OFFERS HANDS-ON LEARNING EXPERIENCES TO HUNDREDS OF STUDENTS EACH YEAR. BIOS PROVIDES UNIQUE EXPERIENTIAL LEARNING OPPORTUNITIES FOR UNDERGRADUATE AND GRADUATE STUDENTS FROM THE US, INCLUDING A FALL SEMESTER OF ACADEMIC COURSES AND FALL INTERNSHIPS PROVIDING AUTHENTIC RESEARCH EXPERIENCE. BIOS ALSO OFFERS SUMMER COURSES FOR STUDENTS FROM AROUND THE WORLD AND SUMMER RESEARCH (CONTINUED IN SCHEDULE O) INTERNSHIPS FOR STUDENTS FROM THE US, CANADA AND THE UK. 10914592 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 7 0 55 1 1 1 1 BD 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X VICTORIA MILLETT 4412971880 BIOS 17 BIOLOGICAL STATION ST. GEORGE'S BD GE 01 WILLIAM CURRY PRESIDENT AND CEO 40.00 X X 324084 0 26206 WILLIAM CHARRIER CHAIRMAN 2.00 X X 0 0 0 WILLIAM H WILLIAMS VICE-CHAIRMAN 2.00 X X 0 0 0 IDWAL WYN HUGHES PHD VICE-CHAIRMAN 2.00 X X 0 0 0 KENNETH H BRINK PHD TRUSTEE 0.50 X 0 0 0 MICHAEL A BUTT TRUSTEE 0.50 X 0 0 0 THOMAS M CHURCH PHD TRUSTEE 0.50 X 0 0 0 RITA R COLWELL PHD TRUSTEE 0.50 X 0 0 0 JOHN W FARRINGTON PHD TRUSTEE 0.50 X 0 0 0 DIANA H FRAZIER TRUSTEE 0.50 X 0 0 0 JAMES N GALLOWAY PHD TRUSTEE 0.50 X 0 0 0 LINDA K GLOVER TRUSTEE 0.50 X 0 0 0 ANTHONY WILLIAMS TRUSTEE 0.50 X 0 0 0 ALAN MCGOWAN TRUSTEE 0.50 X 0 0 0 NEILL CURRIE TRUSTEE (RESIGNED APRIL 2014) 0.50 X 0 0 0 JAMES N STANARD PHD TRUSTEE 0.50 X 0 0 0 DEBORAH K STEINBERG PHD TRUSTEE 0.50 X 0 0 0 WILLIAM RUSSEL PHD TRUSTEE 0.50 X 0 0 0 PHILIP V BANCROFT TRUSTEE (RESIGNED APRIL 2014) 0.50 X 0 0 0 ALLAN WB GRAY TRUSTEE 0.50 X 0 0 0 MICHAEL D HAMER PHD TRUSTEE 0.50 X 0 0 0 DENNIS HANSELL PHD TRUSTEE 0.50 X 0 0 0 CHRISTOPHER MAYBURY TRUSTEE 0.50 X 0 0 0 BRIAN M O'HARA TRUSTEE 0.50 X 0 0 0 RALPH E RICHARDSON TRUSTEE 0.50 X 0 0 0 HON GERALD DE SIMONS OBE TRUSTEE 0.50 X 0 0 0 PAUL HANLE TRUSTEE 0.50 X 0 0 0 GARY H ISAKSEN PHD TRUSTEE 0.50 X 0 0 0 GEORGE A WARDMAN TRUSTEE 0.50 X 0 0 0 GRAHAM COLLIS TRUSTEE 0.50 X 0 0 0 LADY JUDY VEREKER TRUSTEE 0.50 X 0 0 0 PHILIP BUTTERFIELD TRUSTEE (RESIGNED APRIL 2014) 0.50 X 0 0 0 RICHARD FERRETT TRUSTEE 0.50 X 0 0 0 BRIAN DUPERREAULT CHAIR THRU 4/14;TRUSTEE A/O 5/14 0.50 X X 0 0 0 BRENDAN MCDONAGH TRUSTEE 0.50 X 0 0 0 JONATHAN REISS TRUSTEE 0.50 X 0 0 0 IAN STRECKER VICECHAIR THRU 4/14;TRUSTEE A/O 4/14 0.50 X X 0 0 0 WILLIAM WELTON CHIEF FINANICAL AND OPERATING OFFICER 40.00 X 198726 0 17371 STEPHEN MARKMAN TREASURER/CONTROLLER THRU 4/2014 40.00 X 29575 0 2220 VICTORIA MILLETT TREASURER/CONTROLLER 40.00 X 147000 0 10531 GILLIAN M S HOLLIS SECRETARY 40.00 X 83522 0 9851 NICHOLAS BATES SENIOR SCIENTIST 40.00 X 213690 0 16198 AUDREY ROGERSON ASSOCIATE SCIENTIST 40.00 X 150000 0 0 RONALD HARELSTAD MARINE SUPERINTENDENT 40.00 X 133539 0 20282 PENELOPE BARNES EDUCATION DIRECTOR, UNIVERSITY PROGRAMS 40.00 X 130938 0 16167 JP SKINNER DIRECTOR OF OCEAN ACADEMY 40.00 X 115500 0 16699 RODNEY JOHNSON ASSISTANT SCIENTIST 40.00 X 112481 0 9707 1639055 0 145232 9 0 1 0 COLONNA'S SHIPYARD INC 400 EAST INDIAN RIVER ROAD NORFOLD VA 23523 SHIP REPAIRS AND DOCK EXPENSE 1276219 SOL PETROLEUM BERMUDA LTD 25 FERRY ROAD ST. GEORGE'S BD GE 01 DIESEL FUEL 298083 BERNHARD SCHULTE SHIPMANAGEMENT RICHMOND HOUSE 12 PAR LA VILLE HAMILTON BD HM HX SHIPMANAGEMENT SERVCIES 223847 TELEDYNE WEBB RESEARCH 49 EDGERTON DRIVE N FALMOUTH MA 02556 SLOCUM GLIDER 197485 APPLETON MARINE INC 3030 PERSHING ST APPLETON WI 59415 CRANE AND CRANE PARTS FOR SHIP 180246 8 7049536 3785335 35000 10834871 EDUCATION 900099 2016324 2016324 2016324 615000 615000 423272 239932 183340 183340 -27177 210517 9158929 35000 6165119 0 2993810 35000 3028810 3028810 21947 14622 7325 7325 16685670 2016324 -27177 3861652 485492 485492 107699 107699 1078974 216350 754034 108590 3830658 3464994 99541 266123 706087 553357 105438 47292 203093 159163 30327 13603 7600 7600 60000 60000 460008 453508 6500 3009 360 2649 296186 245193 39075 11918 29847 29259 588 416624 416624 384091 338705 32362 13024 44047 41536 2511 75927 74177 1750 1151290 1025132 126158 235507 222655 12852 REPAIRS & MAINTENANCE 1303349 1273764 9520 20065 FUEL 690335 690335 0 0 INTERNS/STIPENDS 584217 521757 16646 45814 SUPPLIES AND FOOD 572806 560522 7251 5033 37358 34010 3348 12764204 10914592 1307313 542299 1555282 2142013 6671 628192 685445 1043649 52250 223174 44058 35892 4510 30102 30698490 14583037 16438578 16115453 14107263 14179525 32894057 34398000 1023119 753698 618032 287125 2716133 3891366 1732062 1732062 6089346 6664251 X 10425631 10816926 6679015 7189889 9700065 9726934 26804711 27733749 32894057 34398000 3921466 -2992428 0 X X 0 1 X 1 1 1 X 2385663 4916198 10516198 10162749 10834871 38815679 2385663 4916198 10516198 10162749 10834871 38815679 1554678 37261001 249528 218618 488998 828084 615000 2400228 7325 7325 41223232 27780271 0.90390 0.93330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14785342 26869 613739 608550 14817400 13418829 26900 1876332 536719 14785342 12248819 26400 1610210 466600 13418829 10521175 2026900 156673 455929 12248819 9754417 1250 1169529 404021 10521175 0.10000 0.66000 0.24000 0 0 486850 486850 16417284 7536158 8881126 4499682 3554388 945294 9294674 3492491 5802183 16115453 X 13764987 -2992428 71745 -2920683 16685670 0 16685670 12835949 71745 71745 12764204 0 12764204 PART V, LINE 4: THE PURPOSE OF BIOS'S ENDOWMENT FUNDS IS TO PROVIDE LONG-TERM SUPPORT FOR THE INSTITUTION. INCOME FROM DONOR-RESTRICTED ENDOWMENT FUNDS IS UTILIZED BY BIOS IN ACCORDANCE WITH DONOR INTENT. PART X, LINE 2: BIOS RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT BIOS HAD NO UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. BIOS IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FACILITY FEE NETTED AGAINST GUEST SERVICE REVENUE: $-147,809 COST OF GOODS SOLD RECLASSED TO FORM 990, PART VIII, LINE 10B: $14,622 RENTAL EXPENSE RECLASSED TO FORM 990, PART VIII, LINE 6B: $239,932 DISPOSAL OF FIXED ASSETS RECLASSED TO FORM 990, PART VIII, LINE 7: $-35,000 PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSED TO FORM 990, PART VIII, LINE 6B: $239,932 COST OF GOODS SOLD RECLASSED TO FORM 990, PART VIII, LINE 10B: $14,622 FACILITY FEE NETTED AGAINST GUEST SERVICE REVENUE: $-147,809 DISPOSAL OF FIXED ASSETS RECLASSED TO FORM 990, PART VIII, LINE 7: $-35,000 1 BERMUDA 1 94 PROGRAM SERVICES SCIENTIFIC RESEARCH AND EDUCATION 10914592 1 94 0 0 1 94 10914592 0 10914592 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM TO FACILITATE SCIENTIFIC RESEARCH 34854 WIRE TRANSFER EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM TO FACILITATE SCIENTIFIC RESEARCH 23000 CHECK EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM TO FACILITATE SCIENTIFIC RESEARCH 8657 CHECK EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM TO FACILITATE SCIENTIFIC RESEARCH 41188 WIRE TRANSFER 4 0 0 0 0 0 0 PART I, LINE 2: USE OF GRANT FUNDS OUTSIDE THE USA ARE SUBJECT TO THE SAME SCRUTINY AS ARE FUNDS INSIDE THE USA. THE FUNDS ARE ISSUED TO THE ORGANIZATION ONLY, BASED ON AN APPROVED PROPOSAL, PERIODIC REPORTS ARE REQUIRED AND FUNDS ARE ONLY RELEASED ON A REIMBURSEMENT BASIS. 1 WOODS HOLE OCEANOGRAPHIC INSTITUTE 569 WOODS HOLE ROAD BOSTON MA 02543 042105850 501(C)(3) 20029 TO FACILITATE SCIENTIFIC RESEARCH MARINE BIOLOGICAL LABORATORY PO BOX 3218 BOSTON MA 022413218 042104690 501(C)(3) 209064 TO FACILITATE SCIENTIFIC RESEARCH UNIVERSITY CORPORATION FOR ATMOSPHERIC RESEARCH PO BOX 3000 BOULDER CO 803073000 840412668 501(C)(3) 55200 TO FACILITATE SCIENTIFIC RESEARCH MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE NE 18-901 CAMBRIDGE MA 02139 042103594 501(C)(3) 32289 TO FACILITATE SCIENTIFIC RESEARCH FLORIDA STATE UNIVERSITY FOR RESEARCH PO BOX 3064166 TALLAHASEE FL 323064166 593211153 501(C)(3) 104484 TO FACILITATE SCIENTIFIC RESEARCH VIRGINIA INSTITUTE OF MARINE SCIENCE PO BOX 1346 GLOUCESTER POINT VA 230621346 542027915 501(C)(3) 17665 TO FACILITATE SCIENTIFIC RESEARCH CLIMATE CENTRAL 1 PALMER SQUARE SUITE 330 PRINCETON NJ 08542 261797336 501(C)(3) 28072 TO FACILITATE SCIENTIFIC RESEARCH UNIVERSITY OF NORTH CAROLINA AT ASHEVILLE 219 PHILLIPS HALL CPO 1430 ONE UNIVERSITY HEIGHTS ASHEVILLE NC 28804 566002370 501(C)(3) 7569 TO FACILITATE SCIENTIFIC RESEARCH 8 PART I, LINE 2: BIOS MAINTAINS ACCOUNTING PROCEDURES GOVERNING ALL EXPENDITURES INCLUDING GRANT EXPENDITURES IN ITS ACCOUNTING AND POLICIES PROCEDURE MANUAL. GRANT FUNDING IS PROVIDED CONTRACTUALLY VIA SUBAWARD OR GRANT AGREEMENT VIA BIOS. FEDERAL PROJECT GRANT FUNDING FOR SUBAWARDS REQUIRE MONITORING IN TWO AREAS - (A) SUBRECIPIENT INSTITUTION COMPLIANCE WITH THE AUDITING REQUIREMENTS OF OMB CIRCULAR A-133 AND (B) SUBRECIPIENT PROVIDES PIS WITH ROUTINE AND REVIEWING OF TECHNICAL REPORTS AND REVIEW OF INVOICING IN RELATION TO BUDGET. CONTRACTUAL AGREEMENTS DICTATE SCOPE, PERIOD OF PERFORMANCE, AUDIT AND COMPENSATION (COST REIMBURSEMENT) REQUIREMENTS. ALL AGREEMENTS ARE TO FACILITATE SCIENTIFIC RESEARCH IN ACCORDANCE WITH THE ORGANIZATION'S MISSION. THIS IS CONSISTENTLY APPLIED IN US EXPENDITURES AND NON US EXPENDITURES ALIKE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 WILLIAM CURRY PRESIDENT AND CEO 262500 0 0 0 61584 0 0 0 26206 0 350290 0 0 0 WILLIAM WELTON CHIEF FINANICAL AND OPERATING OFFICE 189263 0 0 0 9463 0 0 0 17371 0 216097 0 0 0 VICTORIA MILLETT TREASURER/CONTROLLER 140000 0 0 0 7000 0 0 0 10531 0 157531 0 0 0 NICHOLAS BATES SENIOR SCIENTIST 204000 0 0 0 9690 0 0 0 16198 0 229888 0 0 0 RONALD HARELSTAD MARINE SUPERINTENDENT 132883 0 0 0 656 0 0 0 20282 0 153821 0 0 0 PART I, LINE 1A PART I LINE 1A: HOUSING ALLOWANCES ARE PROVIDED TO SUPPLEMENT THE EXCESSIVE COST OF HOUSING IN BERMUDA. MOST STAFF ARE ABLE TO BENEFIT FROM THE RELATIVELY LOW COST HOUSING AVAILABLE ON CAMPUS. ALL ALLOWANCES PROVIDED ARE INCLUDED IN W-2'S WHERE REQUIRED. X 1 35000 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 BIOS HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT'S SUBMITTED ELECTRONICALLY TO THE AUDIT COMMITTEE AND THE CHAIRMAN OF THE FINANCE COMMITTEE FOR REVIEW AND COMMENTS PRIOR TO ITS SUBMISSION. EACH COMMENT OR ISSUE, IF ANY, IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING FORM 990, PART VI, SECTION B, LINE 12C BIOS INC. HAS A CONFLICT OF INTEREST POLICY GOVERNING ANY INTERESTED PERSON (ANY DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS DIRECT OR INDIRECT FINANCIAL INTEREST) IS AN INTERESTED PERSON, I.E. NOT INDEPENDENT. A CONFLICT OF INTEREST MAY EXIST IF AN INTERESTED PERSON HAS DIRECTLY OR INDIRECTLY THROUGH BUSINESS, INVESTMENT OR FAMILY, (A) AN OWNERSHIP/INVESTMENT INTEREST IN AN ENTITY OF WHICH BIOS HAS A TRANSACTION ARRANGEMENT, (B) A COMPENSATION ARRANGEMENT WITH BIOS OR ANY ENTITY OR INDIVIDUAL WITH WHICH BIOS HAS A TRANSACTION OR ARRANGEMENT, OR (C) A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN OR COMPENSATION ARRANGEMENT. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD POWERS. UPON DISCLOSURE OF THE FINANCIAL INTEREST AND MATERIAL FACTS, THE BOARD MINUS THE INTERESTED PERSON WILL DISCUSS AND VOTE UPON DETERMINATION OF THE EXISTENCE OF A CONFLICT OF INTEREST. IF A CONFLICT OF INTEREST IS DEEMED TO EXIST THE GOVERNING BOARD WILL TAKE APPROPRIATE CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 BIOS INC. HAS ESTABLISHED A WRITTEN COMPENSATION POLICY FOR THEIR COMPENSATION COMMITTEE TO FOLLOW IN ESTABLISHING THE COMPENSATION FOR THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIAL, OTHER OFFICERS OR KEY EMPLOYEES. COMPENSATION OF THE PRESIDENT AND DIRECTOR IS DETERMINED BY THE COMPENSATION COMMITTEE BASED ON REVIEW OF COMPARABLE STATISTICS AND OTHER SOURCES AS THEY DEEM APPROPRIATE. COMPENSATION OF OTHER OFFICERS AND KEY MANAGEMENT PERSONNEL ARE DETERMINED BY THE PRESIDENT AND DIRECTOR WITH THE ADVICE OF THE CHAIRMAN. FORM 990, PART VI, SECTION C, LINE 19 FORM 990, PART VI, SECTION C, LINE 19: BIOS INC. MAKES ITS FORM 990 AVAILABLE FOR THE PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION FORM 990, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST AT BIOS, 17 BIOLOGICAL STATION, ST. GEORGE GE 01, BERMUDA, OR BY CALLING THE ORGANIZATION DIRECTLY AT (441) 297-1880. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATREMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.